S.3270 - A bill to amend title 38, United States Code, to require the Secretary of Veterans Affairs to consider the resources of individuals applying for pension that were recently disposed of by the individuals for less than fair market value when determining the eligibility of such individuals for such pension, and for other purposes.112th Congress (2011-2012)
|Sponsor:||Sen. Wyden, Ron [D-OR] (Introduced 06/06/2012)|
|Committees:||Senate - Veterans' Affairs|
|Latest Action:||Senate - 06/27/2012 Committee on Veterans' Affairs. Hearings held. Hearings printed: S.Hrg. 112-668. (All Actions)|
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Summary: S.3270 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in Senate (06/06/2012)
Provides that if a veteran eligible for a pension for service or for a non-service-connected disability, or the spouse of such veteran, disposes of a resource that was part of such veteran's estate for less than its fair market value within three years before applying for such pension, then the Secretary of Veterans Affairs (VA) shall deny or discontinue the pension payment for months beginning on the date of such disposition and ending when the uncompensated value of such resource is reached. Provides the same denial or discontinuance in the case of a veteran eligible for an increased pension payment on account of a child, unless the Secretary determines that such denial or discontinuance would work an undue hardship.
Applies the same denial or discontinuance, with the same undue hardship exception, in the case of: (1) a veteran's surviving spouse who disposes of a covered resource for less than fair market value within such period, and (2) an increased pension for such spouse on account of a child.
Requires the Secretary, at the time a veteran, surviving spouse, or child applies for such a pension, to: (1) inform the individual of such requirements, and (2) obtain information to determine whether a period of ineligibility for such payments will be required.
Requires annual reports from the Secretary, through 2023, on the administration of this Act.